Einhorn on the Ratings Agencies’ Roger Ebert Defense

Thumbs down from me on the kooky idea that rating agencies — despite their preferential treatment as government-sanctioned and requiring entities — are essentially relying on the defense that credit ratings aren’t actionable information, they’re more like a movie review.

Related posts:

1. Fitch Ratings Re-Rates Ratings
2. It’s Not the Bond Rating Agencies’ Fault
3. The U.S., Botswana, and the Trouble with Sovereign Credit Ratings
4. The Blame Game (II): Credit Rating Agencies are Rug Pee-ers
5. Newsflash: Credit Rating Agencies Hurt America